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Loan Insurance Scheme (LIS)

Loan Insurance Scheme (LIS)

Companies can secure short-term trade financing with the Loan Insurance Scheme (LIS), which insures the banks against insolvency risks of the borrowers. Loans are underwritten by commercial insurers, while a portion of the insurance premium is supported by the Government.

Companies can apply for the LIS to secure short-term trade financing lines such as:

Applicant’s group annual sales turnover should be up to S$100 million or applicant’s group employment size must not exceed 200 workers1

Apply

Ensure your business qualifies for the loan

Consult any of the Participating Financial Institutions (PFIs) for advice and assistance

Meet the financial institution with these supporting documents:

Business profile from ACRA

Audited accounts or certified financial statements

Bank statements

Personal income tax assessment of owners and directors

Other documents as required by your banker or financial institution

Applications can be made through any of the PFIs listed below:

Participating Financial Institutions (PFIs)

Contact Details

Bibby Financial Services (Singapore) Pte Ltd

6922 5030

The Bank of East Asia, Limited

6602 7848/ 6602 7849

CIMB Bank Berhad

6438 7888

DBS Bank Ltd

1800 222 2200

Hong Leong Finance Limited

1800 338 8338

The Hongkong and Shanghai Banking Corporation Limited

1800 216 9008 / 6216 9008

Malayan Banking Berhad (Maybank)

1800 629 2265

Overseas-Chinese Banking Corporation Limited (OCBC Bank)

6538 1111

RHB Bank Berhad Singapore

1800 323 0100

Standard Chartered Bank

1800 743 3000

United Overseas Bank Limited

1800 226 6121

Post-application

Pay the insurance premium upon successful application

Receive notification from the financial institution that the loan is ready for use

Keep proper records of repayments

Make repayments on time

1: Group is defined to include the Applicant, the Applicant’s corporate shareholders who own > 50% of total shareholding and the Applicant’s subsidiaries where the Applicant holds > 50% of the total shareholding of the subsidiaries.

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